CBDC Working Group
The Lebanese Pound is pegged to the USD. Lebanon has a very high income from remittances which makes a change to a fully digital system attractive.
The BDL was involved in the Arab Financial Inclusion day in 2019. This confirms the BDL’s interest in addressing financial inclusion in Lebanon, a key aspect of CBDCs and digitization generally.
Lebanon has been building a National Payment System.
Lebanon has made significant steps towards building an advanced and secure payment system that abides by International standards and best practices, including the Principles of Financial Market Infrastructures (PFMIs).
Lebanon has faced hard economic conditions with increasing debt, and a declining foreigh reserves basis and stated in publication Number 317.
net total public debt rose in October 2020 by LBP 383 billion, reaching LBP 128,666 billion at the end of the month.
The NNA has reported that a working group for CBDC will be created under a Regtech framework.